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UFS Business School helps young people become entrepreneurs

12 December 2022 | Story Kekeletso Takang | Photo Supplied

web read more — Through the New Venture Creation Programme, the UFS Business School aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The University of the Free State Business School (UFSBS) recently hosted a New Venture Creation programme aimed at mitigating unemployment among the youth. Through this programme, the UFSBS aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The unemployment rate in South Africa was 33,9% in the second quarter of 2022, with youth remaining particularly vulnerable in the labour market. The New Venture Creation programme, funded by the Education, Training and Development Practices Sector Education and Training Authority (ETDPSETA), provides the opportunity for 100 unemployed youth in the Northern Cape and 100 unemployed youth in the North West to be part of the programme.

In addition to the UFSBS, the ETDPSETA has also partnered with the Office of the Premier in the Northern Cape, the Sol Plaatje Municipality, and the Department of Social Development. These partners assisted with the identification and recruitment of participants in order to ensure the right people were included in the programme.

“For me, the programme was informative and practical,” said Paseka Tlali, one of the top achievers taking part in the New Venture Creation programme. “It allowed me to learn about developing a business plan. Since completion, I have registered a business focusing on media consultancy. Through my business I can educate others on the importance of developing a personal brand.”

David Gool, another participant from the Northern Cape, said, “I have now become a social media ambassador working with Herbalife as their brand ambassador, thanks to the programme.”

Participants were taken on a practical journey to identify an idea and turn it into a profitable small business. Not only were they taught about new venture creation, but they were also taken on a journey to understand themselves better. The four-month programme saw participants go from attending classes to presenting their business plans to a panel that was also referred to as “The Circle of Elders”. This panel consisted of the ETDPSETA, the UFSBS, the National Youth Development Agency (NYDA) and the Small Enterprise Development Agency (SEDA). They provided each participant with practical feedback and guidance on how to make their planned venture a reality.

The New Venture Creation programme includes the following study units: Entrepreneurship Journey, Marketing Plan, Operations Plan, Business Model, and Business Plan Framework, among others.

Graduation ceremonies were held at the completion of the programme in De Aar and Kimberley, sponsored by Standard Bank.

Read up on more programmes offered by the UFS Business School here

News Archive

Renewal process in JBM Hertzog Residence

2014-03-19

In February 2014, the JBM Hertzog residence community initiated a process of renewal. The review and reassessment of university symbols and traditions is nothing new; it takes place on a regular basis through the institution.

This means that various conversations take place to consult students on the evaluation of their residence’s values, symbols, systems and traditions in a changing South Africa. The university is deeply committed to continuously renewing its residence cultures through focused conversations in order to be more inspiring and welcoming to all students. The involvement of students in co-creating such spaces remains paramount.

The university regrets the deliberate and misleading information in the media on the process underway in JBM. The importance of student involvement consequently calls for the distribution of accurate information in order to avoid uncertainties, misunderstandings and incorrect perceptions.

It is therefore important to state the following regarding the current renewal process in JBM Hertzog:

1. No memorabilia or photos have been removed, and no final decisions have been taken in this regard. These decisions form an integral part of the consultation process described above.

2. The name of the residence (among other symbols) is part of the consultation process. It is also important to note that all suggested name changes at the UFS are subject to the approval of the institutional Naming Committee and the University Council.

3. The perception that this process is being used to eliminate certain unique cultural identities is incorrect. However, what this process aims to achieve is a more inclusive and welcoming residence culture, and throughout this will be done in consultation with all students.

All current residents of JBM Hertzog are invited to form part of this renewal process. In conclusion, the UFS wishes to convey its appreciation to the Residence Committee members and the residents for their positive attitude and continuous support during this very important process.

Prof Jonathan Jansen
Vice-Chancellor and Rector
University of the Free State

Issued by: Lacea Loader (Director: Communication and Brand Management)
Telephone: +27(0)51 401 2584 or +27 (0) 83 645 2454
E-mail: news@ufs.ac.za
Fax: +27 (0) 51 444 6393

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